Lakeside Bank selects Volante’s PaaS for RTP processing
Business bank Lakeside has selected Volante Technologies to enhance its Swift messaging and real-time payment capabilities.
Lakeside Bank selects Volante’s PaaS
The $2.64 billion-asset bank, based in Chicago, Illinois, has chosen the vendor’s Payments-as-a-Service (PaaS) solution as part of the expanded partnership.
The technology will assist Lakeside in deploying real-time payment and treasury services through both the RTP system operated by The Clearing House and FedNow, which was launched by the Federal Reserve in July last year.
This is expected to deliver several advantages to the bank’s commercial clients, including immediate fund access, enhanced cash flow, and reduced settlement risks.
“Volante gives us the tools to help our clients work more efficiently and save money, including those with extremely high transaction volumes, such as large commodity exchanges,” comments Matthew Palmisano, Lakeside’s SVP and director of treasury management.
Sixth Street-backed Volante previously extended its PaaS to Azqore in July this year, to enable the IT and banking operations technology provider to comply with the SEPA instant payments mandate in Europe.
